Stakeholders in product launch Flashcards
1
Q
Policyholders
A
Want product that meets their needs in terms of amount and/or certainty of level of income received
2
Q
Employees
A
Success of new product may provide more jobs/ better security
3
Q
Directors
A
Poor product negatively affects reputation
4
Q
Regulator
A
Want to ensure product is suitable for and understood by policy holders and that the insurer has sufficient capital to support it
5
Q
Reinsurers
A
Interested in providing reinsurance appropriate to the design of the new product, eg to protect insurer vs longevity risk
6
Q
Professional advisors
A
Interested in features of new product and communicating them to their customers
